CGMA COMPETENCY FRAMEWORK the CGMA COMPETENCY FRAMEWORK IS COMPRISED of FOUR KNOWLEDGE AREAS Technical Skills, Business Skills, People Skills and Leadership Skills

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CGMA COMPETENCY FRAMEWORK THE CGMA COMPETENCY FRAMEWORK IS COMPRISED OF FOUR KNOWLEDGE AREAS Technical Skills, Business Skills, People Skills and Leadership Skills. These knowledge areas are underpinned by ethics, integrity and professionalism. This downloadable document is the complete version of the CGMA Competency Framework.

Apply accounting In the context and finance of the business skills

And lead within the organisation CGMA COMPETENCY FRAMEWORK — PROFICIENCY LEVELS

FOUNDATIONAL: This requires a basic understanding of the business structures, operations and financial performance, and includes responsibility for implementing and achieving results through own actions rather than through others.

INTERMEDIATE: This requires a moderate understanding of overall business operations and measurements, including responsibility for monitoring the implementation of strategy. This has limited or informal responsibility for colleagues and/or needs to consider broader approaches or consequences.

ADVANCED: This requires strong understanding of the organisation’s environment, current strategic position and direction with strong analytical skills and the ability to advise on strategic options for the business. This includes formal responsibility for colleagues and their actions; and that their decisions have a wider impact.

EXPERT: This requires expert knowledge to develop strategic vision and provide unique insight to the overall direction and success of the organisation. This has formal responsibility for business areas and his/her actions and decisions have a high-level strategic impact.

TECHNICAL SKILLS TECHNICAL SKILLS 2

BUSINESS SKILLS

BUSINESS SKILLS 34 PEOPLE SKILLS

LEADERSHIP SKILLS PEOPLE SKILLS 42

ETHICS, INTEGRITY AND PROFESSIONALISM LEADERSHIP SKILLS 48

CGMA COMPETENCY FRAMEWORK 1 CGMA COMPETENCY FRAMEWORK TECHNICAL SKILLS TECHNICAL SKILLS

FINANCIAL ACCOUNTING AND REPORTING 4 TECHNICAL SKILLS

COST ACCOUNTING AND MANAGEMENT 7 BUSINESS SKILLS BUSINESS PLANNING 9

PEOPLE SKILLS MANAGEMENT REPORTING AND ANALYSIS 11

CORPORATE FINANCE AND TREASURY MANAGEMENT 16 LEADERSHIP SKILLS

RISK MANAGEMENT AND INTERNAL CONTROL 21

ACCOUNTING INFORMATION SYSTEMS 26 ETHICS, INTEGRITY AND PROFESSIONALISM

TAX STRATEGY, PLANNING AND COMPLIANCE 29

CGMA COMPETENCY FRAMEWORK TECHNICAL SKILLS 3 FINANCIAL ACCOUNTING AND REPORTING PROFESSIONAL ACCOUNTING STANDARDS

This ensures that the organisation conducts operations and fulfils its statutory and regulatory obligations according to professional accounting standards (domestic and/or international as applicable per business model).

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate awareness and • Review the accuracy and • Demonstrate advanced level • Oversee accounting standards knowledge of the professional legitimacy of recorded financial understanding of accounting selected and implemented by the accounting standards transactions and related reports standards organisation • Apply those principles to • Assist in developing and • Develop, manage and execute • Identify potential issues associated accurately record financial implementing new accounting plans for implementation of new or with proposed accounting and transactions and maintain and reporting pronouncements updated accounting and reporting reporting rules appropriate supporting and determine the resulting impact pronouncements documentation • Recommend appropriate • Identify potential issues associated accounting and reporting with unusual or complex treatment for certain transactions transactions, review and approve the appropriate treatment

TECHNICAL SKILLS FINANCIAL ACCOUNTING AND REPORTING 4 FINANCIAL ACCOUNTING AND REPORTING TRANSACTIONAL ACCOUNTING AND CLOSING PROCESSES

This is the process of recording, adjusting and reconciling financial transactions and events according to professional accounting standards.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Perform all activities within the • Oversee the receivables process; • Resolve exceptional situations in • Design receivables and payables receivables process; calculate identify ways to mitigate debt the receivables process, calculate processes and relevant strategies non-complex provisions using related risks; calculate the impact complex provisions; advise on according to best practices appropriate methods; identify risks of debtors on financial ratios; debtor risk mitigation methods • Produce guidelines and policy for of bad debts calculate non-routine provisions • Manage centralised, complex accounting operations; formulate • Perform all activities within the • Oversee the payables process; accounts payable processes; risk mitigation strategies for bad payables process calculate the impact of creditors on advise on implications of debts financial ratios creditor profile on the business • Perform month end close activities • Provide advice on process performance as well as alternative and provide accurate and timely • Oversee all month-end close improvement, governance and processes related to payables financial submissions processes and activities exceptional situations • Simplify, improve and harmonise • Reconcile sub-ledgers to general • Reconcile complex accounts • Strategically lead implementation existing and complex processes ledger and perform other related involving inconsistent data from of the design and function of the and systems for account account reconciliations; evaluate non-integrated systems organisation’s chart of accounts reconciliations and month-end accounts for legitimacy and according to best practice • Define new general ledger closing balance substantiation accounts and ensure proper • Design processes and relevant • Define and design effective charts • Understand the different maintenance of the organisation’s strategies according to best of accounts components and chart of accounts practice and produce corporate interdependencies of the • Ensure effective accounting guidelines on provisions organisation’s chart of accounts processes and implement changes consistent with best practices

TECHNICAL SKILLS FINANCIAL ACCOUNTING AND REPORTING 5 FINANCIAL ACCOUNTING AND REPORTING FINANCIAL REPORTING AND COMPLIANCE

This is the process of creating internal and external financial reports for both individual entities or groups using appropriate accounting and/or regulatory requirements.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand and describe the main • Prepare financial statements and • Ensure integrity, accuracy • Advise on the ethical selection and elements of financial statements reports and ensure accuracy, and completeness of financial adaption of relevant accounting and reports completeness, and compliance statements; discuss the need policies and estimates with reporting requirements for and nature of appropriate • Understand general compliance • Ensure full organisational disclosures requirements and provide accurate • Identify potential compliance compliance and timely financial submissions issues and recommend solutions to • Implement efficient process upper management; ensure timely changes consistent with best completion of financial reporting practices; create a corporate requirements culture of compliance and shared accountability

TECHNICAL SKILLS FINANCIAL ACCOUNTING AND REPORTING 6 COST ACCOUNTING AND MANAGEMENT COST ACCOUNTING

This is the process of recording costs with associated drivers in the production, analysis and use of information for decision-making in the organisation.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand and apply basic • Break down key business • Implement and apply advanced • Advise on the role of sustainability concepts of cost accounting to processes, allocate costs and costing techniques and discern and environmental cost accounting support entities’ operational and income on an agreed standardised whether costing techniques and its contribution to improved financial requirements basis and identify performance used by the organisation are environmental, social and financial issues appropriate business performance • Demonstrate knowledge to effectively identify and update • Apply various costing methods • Advise on role and classification • Approve offering on new products product costs as necessary such as standard, marginal and of quality costing, including and services and advise on absorption methods and explain prevention, appraisal and internal/ alternative pricing strategies with corresponding advantages and external failure costs financial consequences disadvantages • Recommend on the creation of • Interpret material, labour, new and select products and variable/fixed overhead and services with corresponding selling associated variances price with impact on the business

TECHNICAL SKILLS COST ACCOUNTING AND MANAGEMENT 7 COST ACCOUNTING AND MANAGEMENT COST MANAGEMENT

This is the process of analysing, planning and managing costs (including product pricing and supply chain analysis) to support implementation of organisational strategies.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate basic understanding • Apply various techniques such as • Manage cost challenge processes • Advise on strategic cost of techniques used to analyse and target costing, value analysis, life and work closely with the business transformation including cutting manage costs cycle and discuss implications to ensure key performance waste while maintaining or indicators are measuring the right enhancing value creation • Prepare analysis and reports that metrics enable the business management • Lead business on strategy, design to effectively challenge costs and • Discuss and recommend transfer and implementation of work inform decision-making pricing systems and evaluate effect of transfer prices • Participate in waste elimination efforts with the business to • Provide leadership and coaching understand key drivers and cost to team members on cost control reduction opportunities and reporting issues

TECHNICAL SKILLS COST ACCOUNTING AND MANAGEMENT 8 BUSINESS PLANNING PLANNING, FORECASTING AND BUDGETING

This is the process of evaluating and quantifying a strategically aligned plan, for a defined period of time, which may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows as well as non-financial metrics.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Contribute to business planning, • Lead planning processes, including • Translate business strategy into • Provide critical inputs to the budgeting and expenditure setting targets, communicating financial targets and tactical business planning and expenditure forecasting processes assumptions, coordinating plans and support execution in a forecasting processes; innovate budget preparation, challenging controlled risk and reward-based to enhance the business impact • Apply basic modelling, forecasting submissions and seeking synergies manner of target setting, planning and and planning techniques to upon consolidation budgeting develop cost forecasts with cost • Interpret and make effective drivers identified and explained • Provide the business with management decisions using • Set and define the framework relevant financial support to benchmarking, trends, and for organisation goals and enable effective planning while other planning and forecasting objectives; lead organisation-wide applying moderate budgeting and methods; develop and implement strategy, planning, design and forecasting techniques improvements to the planning implementation work processes • Provide reasoned advice • Provide unique insight and on modelling, planning and • Establish and ensure effective strategic advice on trends, forecasting with reference to cost, and consistent modelling, planning industry, market factors, customer time and quality which might and forecasting processes across behaviour and other cost drivers include an understanding of business unit(s) and identify and affecting the organisation some aspects of the organisation implement best practices in these strategic direction processes

TECHNICAL SKILLS BUSINESS PLANNING 9 BUSINESS PLANNING CAPITAL EXPENDITURE AND INVESTMENT EVALUATION

This is the process of assessing investments based on alignment with strategy, affordability, acceptable returns and prioritisation of options.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Apply investment appraisal • Communicate and apply • Evaluate and appraise large • Approve investment proposals techniques to investment appraisals investment decision making criteria and complex investments, capital • Anticipate future needs of the expenditures and financing • Perform post-investment reviews organisation including portfolio projects actions • Review investment appraisals and provide guidance and recommendations

TECHNICAL SKILLS BUSINESS PLANNING 10 MANAGEMENT REPORTING AND ANALYSIS FINANCIAL ANALYSIS

This is the process of analysing the financial statements and data to provide insights about the financial performance and position of the organisation over time and in comparison with others.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Use financial ratio analysis • Apply common quantitative • Review outputs of financial and • Interpret and translate financial toevaluate the organisation’s techniques such as discounted cash flow analyses to develop statements to drive strategic and performance, its financial state, cash flow (DCF) and value at risk views and guide management; successful business decisions and the effectiveness of its use (VAR) to model the economic, resolve significant reporting growth; provide guidance to the of working capital and its fiscal and accounting impact of variances or recommend corrective business using best practice in creditworthiness typical commercial activities or actions where needed cash flow analysis standard financial structures and • Apply discounted cash flow (DCF) • Approve and present financial • Communicate financial results to instruments techniques to evaluate commercial statements and analysis to chief executive officer, board of and financial decisions; determine • Provide analysis to support executive management and directors and external stakeholders and challenge the assumptions that decision-making, including provide recommendations for • Assess cutting-edge developments drive commercial decisions presenting economic outcomes, improvements in quantitative analysis and identifying the key value drivers, • Prepare profit and loss, economic • Design reporting and monitoring incorporate relevant developments benefits, sensitivities and risks, value added and cash flow analysis regimes to track performance into the organisation’s accounting and fiscal implications to enable decision-making; evaluate against corporate objectives methodologies changes in account balances and • Prepare and analyse problems • Apply sophisticated quantitative • Set standards for business analysis identify items requiring escalation using sensitivity analysis and analysis to identify the business, to support strategic direction and other techniques; review commercial and financial impact comparison; develop and implement variance analyses and account on the organisation of different finance solutions to complex and reconciliations, and identify courses of action; advise on high value commercial decisions significant items requiring actions or options to improve the including all aspects of non-technical the attention of higher-level modelled outcome risk and business delivery management

TECHNICAL SKILLS MANAGEMENT REPORTING AND ANALYSIS 11 MANAGEMENT REPORTING AND ANALYSIS MANAGEMENT REPORTING

This is the process of delivering, discussing and reporting on the organisation’s operations and financial conditions (including quality and sustainability reporting, customer profitability).

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Extract and deliver straightforward • Deliver quality management • Assess, generate and implement • Develop new strategies, processes management information reports information ideas to optimise identification and systems that provide top and delivery of management quartile management information • Prepare and provide accurate • Develop business unit reporting information to multi-functional to businesses in terms of quality and timely financial data, where systems for management, project teams information and low cost/high appropriate, for inclusion in the or performance reporting and value solutions financial control process implement processes to deliver • Lead the development of management information functional reporting systems, • Set the standard for corporate according to the reporting cycle for management, project or management reporting and performance reporting specified information systems to support their implementation • Challenge and make fundamental changes to address root causes • Identify and implement best of management information and practice management reporting reporting quality/correctness issues across the organisation and wider industry; provide strategic insight on the content of reports

TECHNICAL SKILLS MANAGEMENT REPORTING AND ANALYSIS 12 MANAGEMENT REPORTING AND ANALYSIS PERFORMANCE MANAGEMENT

This is the process of measuring and monitoring performance to ensure organisational and personal goals are consistently met.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Interpret and provide basic • Create proposals for new • Own, select and use financial and • Develop, establish and analysis of management transactions or ways of doing non-financial key performance continuously improve the information and link to business business based upon a sound indicators in business appraisal; performance management unit strategy and operational business understanding interpret trends from financial framework and appraisal performance reports, extrapolate and evaluate methodology • Set-up, prepare and lead risk in complex scenarios • Analyse business results, identify appraisals that enable effective • Advise the business at executive learning points and help to monitoring as well as improvement • Interpret and analyse management level on effective performance communicate them through the of business performance information, in the context of the management organisation external environment and business • Assist line management in preparing • Advise on the optimal use of objectives, to advise decision-makers • Distinguish between internal action plans for identified areas financial resources such as and external factors that have of improvement; own and drive • Identify and manage non-technical working capital, credit and risk an impact on performance and the use of key performance risk arising during the delivery of management analyse market and competitor indicators and accurate, timely products or services in the pursuit • Advise business decision-makers in behaviour and forward-looking management of business opportunities selecting appropriate financial and information • Evaluate the impact that key operational indicators portfolio decisions will have on costs and other key performance indicators and integrate impacts in on-going performance management and appraisal

TECHNICAL SKILLS MANAGEMENT REPORTING AND ANALYSIS 13 MANAGEMENT REPORTING AND ANALYSIS VARIANCE ANALYSIS

This is the process of using analytics to identify variances and root causes and prepare creative solutions.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Review management reports, • Interpret financial reports and • Provide advice and guidance • Provide strategic insight on the including identification and accounts, identify and evaluate on the content of business content of business reports awareness of the key causes of risks and opportunities, supervise performance reports and the business variances while applying appropriate causes of variances mitigation where necessary • Design reporting structures • Interpret the content of and assess achievement against management reports and identify corporate goals and objectives key causes of business variances

TECHNICAL SKILLS MANAGEMENT REPORTING AND ANALYSIS 14 MANAGEMENT REPORTING AND ANALYSIS BENCHMARKING

This is the process of comparing organisational procedures and performance to other organisation and industry best practices.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate basic understanding • Benchmark business performance • Assess competitor’s future trends • Lead benchmarking or process in distinguishing between internal internally and externally; and strategies from benchmark improvement initiatives to improve and external factors that impact on deliver benchmark management data and identify key opportunities controls, make processes more performance information to specific needs to and threats for the organisation’s efficient or effective and/or reduce allow decision-making that pushes own business cycle time performance boundaries

TECHNICAL SKILLS MANAGEMENT REPORTING AND ANALYSIS 15 CORPORATE FINANCE AND TREASURY MANAGEMENT CASH MANAGEMENT

This is the process of determining how to balance the organisation’s cash needs; it aims to optimise cash balances, while managing customer, supplier and investor needs to determine the optimal financing of working capital.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Identify funding needs, assess • Negotiate, implement and provide • Design, negotiate, implement • Identify and exploit technology credit rating using standard credit ongoing first line support of and execute cash management and market trends to define future models and implement standard alternative cash management solutions to complex or unusual best practice in cash management corporate funding solutions where solutions available in the market business requirements solutions to meet business needs appropriate • Complete corporate reporting • Manage standard cash • Execute standard cash for foreign currency cash flows; management solutions contracts; management solutions execute a forward contract monitor corporate reporting on foreign currency cash flows

TECHNICAL SKILLS CORPORATE FINANCE AND TREASURY MANAGEMENT 16 CORPORATE FINANCE AND TREASURY MANAGEMENT MERGERS AND ACQUISITIONS

This is the process of consolidating with and acquiring other organisations.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Perform limited analysis of • Assess the attractiveness of • Analyse and communicate the • Act as finance lead for the most mergers, acquisitions and mergers, acquisitions and impact of mergers, acquisitions significant and complex mergers, divestitures prospects divestitures versus organic growth and divestitures on business acquisitions and divestitures options for the organisation strategy and portfolio management transactions • Participate in due diligence and compare to organic growth assignments • Provide independent perspective • Assess cutting edge developments options and analysis of valuation, deal in mergers, acquisitions and economics, deal structure, • Act as finance lead for major divestitures policies and counterparty motivations and multi-disciplinary mergers, processes and incorporate overall financial and structural acquisitions and divestitures relevant developments into the aspects of mergers, acquisitions transactions and lead post organisation’s strategy and divestitures transactions implementation reviews of the selected business transactions • Manage the due diligence process, including interactions with the deal negotiating team, from scope definition to interpretation of findings

TECHNICAL SKILLS CORPORATE FINANCE AND TREASURY MANAGEMENT 17 CORPORATE FINANCE AND TREASURY MANAGEMENT TREASURY POLICIES AND TREASURY RISK MANAGEMENT

This is the process of implementing policies, evaluating and managing risks associated with the organisation’s investment, funding activities, collections and disbursements.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Review and understand basic • Analyse the corporate treasury • Advise business units in the • Lead and provide strategic corporate treasury policies policies pertaining to areas of implementation, execution and oversight on the implementation pertaining to your business unit; the business analysis of corporate treasury and execution of corporate able to implement standard policies; assess key operational treasury policies for the • Evaluate common treasury treasury risk management solutions treasury risks, design and organisation exposures and financial where appropriate implement risk-based mitigation instruments, including the financial • Establish and lead culture of • Assess credit risk of counterparties mathematics underpinning their • Negotiate, implement and provide risk management by providing using credit models; develop pricing on-going first-line support to executive oversight in policies, basic short and medium term alternative or non-standard risk practices and reporting cash flow forecasts and advise on management solutions where appropriate actions appropriate

TECHNICAL SKILLS CORPORATE FINANCE AND TREASURY MANAGEMENT 18 CORPORATE FINANCE AND TREASURY MANAGEMENT BUSINESS VALUATION

This is the process of estimating the economic value of a business unit or an organisation.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Model a basic valuation of a firm • Able to analyse, interpret and • Display solid knowledge in • Exhibit experience and advanced display knowledge within a analysing and interpreting analytical ability to strategically process of due diligence valuation decisions determine effectiveness and appropriateness of valuation decisions

TECHNICAL SKILLS CORPORATE FINANCE AND TREASURY MANAGEMENT 19 CORPORATE FINANCE AND TREASURY MANAGEMENT CORPORATE FUNDING

This is the process of acquiring or raising funds to carry out organisational goals and objectives.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand basic corporate • Support funding arrangements and • Apply corporate finance and • Oversee banking relationships and funding arrangements coordinate debt ratings process funding techniques from first maintain external communication principles to complex and unusual with rating agencies and situations investment banks • Negotiate funding arrangements • Evaluate and recommend optimal including corporate credit facilities, capital structure; develop and public and private financing challenge shareholder models and arrangements and minimise total link to economic models cost of funds

TECHNICAL SKILLS CORPORATE FINANCE AND TREASURY MANAGEMENT 20 RISK MANAGEMENT AND INTERNAL CONTROL RISK MANAGEMENT POLICIES AND PROCEDURES

This is the process of understanding and applying organisational policies/procedures to manage and control both financial and non financial risks to which the organisation might be exposed.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Obtain basic understanding of the • Apply relevant risk regulations, • Develop innovative approaches to • Drive integration and application of the organisation’s policies and procedures to managing significant business risks standardisation of risk risk management policies non-complex business issues effectively and efficiently management processes across the organisation • Lead implementation, execution and monitoring activities • Advise on the application of the organisation’s risk management • Advise on best solutions and policies, industry best practices foresee the impact of changes and construct organisation in regulations, policies and guidelines procedures for non-complex and increasingly complex business • Analyse trends in risk management issues and internal control, evaluate implications, define and implement organisation-wide response

TECHNICAL SKILLS RISK MANAGEMENT AND INTERNAL CONTROL 21 RISK MANAGEMENT AND INTERNAL CONTROL RISK IDENTIFICATION AND ASSESSMENT

This is the process of detecting and evaluating risk factors that could adversely affect the implementation of the organisation’s strategy.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate basic understanding • Participate in risk assessment and • Diagnose significant, unusual • Advise on applicable aspects of of the entity’s risk components and identification efforts and emerging risks to which the risk identification and assessment organisational controls business is exposed • Identify and assess the impact and likelihood of risks to achieving business objectives; monitor changes in risk environment

TECHNICAL SKILLS RISK MANAGEMENT AND INTERNAL CONTROL 22 RISK MANAGEMENT AND INTERNAL CONTROL RISK RESPONSE AND REPORTING

This is the process of developing and implementing procedures to mitigate identified risks or exposure to risk, and disclosing risk information to both internal and external stakeholders.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand effective controls or • Monitor the effectiveness of actions • Develop and implement • Develop innovative and strategic mitigation options to manage taken to manage identified risks appropriate risk mitigation for approaches to managing specific risks and refer to experts and intervene as appropriate significant and unusual risks to significant business risks across where appropriate which the business is exposed the organisation • Understand and be able to explain the purpose of risk mitigation • Provide advice on business • Interpret risk reporting and make measures continuity management effective decisions based on mechanisms, define appropriate high-level understanding and • Understand, develop and prepare risk responses for reasonably expertise risk reporting foreseeable emergency scenarios and events • Design and implement risk reporting systems and communicate to executive management risk processes and results including recommendations for improvement

TECHNICAL SKILLS RISK MANAGEMENT AND INTERNAL CONTROL 23 RISK MANAGEMENT AND INTERNAL CONTROL INTERNAL CONTROL

This is the process of implementing a control framework to ensure the integrity of operations, financial and accounting practices.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand internal control • Assist in the development and • Act as a custodian and maintain • Define fit-for-purpose control framework and the type of risks to implementation of governance the integrity and consistency of frameworks and ensure mitigate frameworks and fit-for-purpose business governance and control implementation and full financial controls frameworks compliance of control policies • Identify, interpret and apply control across the organisation guidelines and requirements on • Establish processes to monitor • Significantly improve and monitor specific governance issues compliance and effectiveness risk-based system of financial • Evaluate the implications of of financial controls in line with control; develop solutions for the changes in regulations and best • Actively promote the application the organisation’s methodology; effectiveness of existing controls practices related to governance of risk management and risk-based identify, develop and implement to manage the business risks and financial controls; approach to internal control process improvements where drive implementation of • Manage, remediate and enforce • Operate financial controls, specific needed organisation-wide responses compliance procedures; define user access and/or data integrity • Implement data integrity and user and implement end-to-end user • Create risk-based governance controls; perform regular reviews access controls to mitigate risks access management processes frameworks to handle complex of segregation of duties conflicts associated with specific processes and standards, covering role and unusual business activities and design, access provisioning, issues • Assess potential impact of monitoring and remediation segregation of duties conflicts; • Lead benchmarking or process identify and implement • Drive the standardisation and improvement initiatives to improve remediation and/or compensating integration of risk-based user controls controls access management processes by making optimal use of system controls and available IT solutions

TECHNICAL SKILLS RISK MANAGEMENT AND INTERNAL CONTROL 24 RISK MANAGEMENT AND INTERNAL CONTROL INTERNAL AUDIT

This is the process of examining, analysing and providing an independent and objective opinion on the effectiveness of an organisation’s operations.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Execute audits to provide • Prepare the audit work program • Ensure proposed audit work • Identify and oversee best practices independent and objective for each audit; develop efficient programs focus on the material and drive innovative and strategic assurance, including preparing and effective assurance activities risks for the area under audit changes to audit practices audit draft reports and parts and is compliant with all relevant • Review assurance plans and audit of the audit work program by internal and external standards programs to ensure appropriate applying corporate internal audit coverage • Address significant, complex and methodology non-routine problems with respect • Maintain manual of authorities for to the audit plan and advise specific areas; manage specific others on how to perform audit assurance activities in support of assessments management’s self-assessment; identify required resources to complete an individual audit

TECHNICAL SKILLS RISK MANAGEMENT AND INTERNAL CONTROL 25 ACCOUNTING INFORMATION SYSTEMS INFORMATION SYSTEMS ENVIRONMENT

This is the process of creating an IT environment and understanding the interrelationships between the various components and systems, including the workflow of data through the systems.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Obtain working knowledge of the • Monitor the applications and • Proactively share knowledge • Develop and communicate organisation’s information systems effectiveness of the organisation’s across the business to streamline strategic vision regarding the environment (hardware, software information systems systems finance systems and supporting and networks) technology

TECHNICAL SKILLS ACCOUNTING INFORMATION SYSTEMS 26 ACCOUNTING INFORMATION SYSTEMS ACCOUNTING APPLICATIONS

This is the process of defining and structuring the accounting systems in compliance with policies and guidelines.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate understanding of • Develop and maintain computer • Secure in-depth understanding • Ensure that accounting information the accounting systems and their literacy on applications critical to of functionality (i.e., knows what systems employ most appropriate functionality the effectiveness and efficiency of the right answer is and how data technology internal accounting processes and should flow) procedures

TECHNICAL SKILLS ACCOUNTING INFORMATION SYSTEMS 27 ACCOUNTING INFORMATION SYSTEMS TECHNOLOGY DEVELOPMENTS AND IT SOLUTIONS

This is the process of adopting and integrating new and improved technology solutions to support the organisational objectives.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand applicability of new • Monitor recent technology • Lead implementation of technology • Develop organisation-wide and improved IT developments and developments and recommend upgrades/enhancements approach and best practices on solutions implementation where practical the adaption of new technologies • Analyse external IT developments and solutions • Display ability to identify potential • Champion productive technology for data integrity and access upgrades, enhancements, new solutions to meet business needs control management • Lead and direct the definition and products and their effects development of new IT solutions • Participate in the functional • Recommend new systems to to improve the efficiency of the development and specifications of automate existing processes and system of financial control new IT solutions in the accounting ways to re-engineer business area process to effectively use new • Partner with IT to ensure that the technology organisation has the appropriate resources to implement new technology

TECHNICAL SKILLS ACCOUNTING INFORMATION SYSTEMS 28 TAX STRATEGY, PLANNING AND COMPLIANCE TAXATION LAW

This ensures that the organisation understands and conducts operations based on statutory, regulatory and common-law rules applicable to the organisation and its line of business.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate understanding of • Understand and discuss routine • Provide tax advice and creatively • Identify, create solutions for and basic principles and application of tax matters such as income tax, solve technical tax issues that are advise on non-routine tax issues business tax indirect tax, corporate tax within non-routine and/or complex of the highest complexity and clear guidelines importance • Interpret new legislation and • Assess technical tax issues evaluate its implications for the of reasonable complexity organisation, and/or advise (in areas of specialisation) on application of existing legislation to new situations

TECHNICAL SKILLS TAX STRATEGY, PLANNING AND COMPLIANCE 29 TAX STRATEGY, PLANNING AND COMPLIANCE TAX RETURN PREPARATION AND REVIEW

This is the process of reviewing and preparing tax returns in accordance to applicable business taxation law, including income, property, consumption, value added tax.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Prepare basic tax returns in area • Review tax returns to ensure • Approve tax returns to ensure • Evaluate impact of amendments in of specialisation accuracy, completeness, and accuracy, completeness and tax laws compliance with applicable tax statutory compliance; provide codes; propose solutions to certain technical guidance to staff in area business tax matters of expertise

TECHNICAL SKILLS TAX STRATEGY, PLANNING AND COMPLIANCE 30 TAX STRATEGY, PLANNING AND COMPLIANCE TAX ACCOUNTING

This is the process of recording financial records for tax purposes as prescribed by taxation law.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Apply basic tax accounting • Apply corporate and international • Set the organisation tax accounting • Analyse trends in tax accounting principles to appropriately record tax accounting standards to standards and resolve unusual and and ensure that the organisation taxes appropriately report the tax complex tax accounting issues is applying best practice in implications of the organisation’s in accordance with applicable tax accounting principles and transactions accounting standards standards • Identify and implement • Recommend and advise on improvements to tax accounting process improvements to tax and reporting processes within accounting within the tax the tax department; highlight department implications of latest international standards and Generally Accepted Accounting Principles (GAAP) in relation to tax accounting

TECHNICAL SKILLS TAX STRATEGY, PLANNING AND COMPLIANCE 31 TAX STRATEGY, PLANNING AND COMPLIANCE TAX AUDIT

This is the process of examining the organisation tax return and position for compliance.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Respond to information requests • Propose internal settlements for tax • Recommend and negotiate • Approve settlements of major tax from taxing authorities audits and disputes settlements of major tax audits or audits or disputes disputes from both internal and external perspectives

TECHNICAL SKILLS TAX STRATEGY, PLANNING AND COMPLIANCE 32 TAX STRATEGY, PLANNING AND COMPLIANCE TAX PLANNING

This is the process of analysing the financial situation or plan of the organisation for tax perspective (including international taxation and transfer pricing).

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate basic understanding • Provide tax support from scoping • Manage corporate tax matters • Set tax policies, strategies, of taxation strategies to post-transaction implementation innovatively and strategically; standards and guidelines for the on certain projects recommend and advise on organisation solutions for complex tax projects or deals affecting more than one jurisdiction

TECHNICAL SKILLS TAX STRATEGY, PLANNING AND COMPLIANCE 33 CGMA COMPETENCY FRAMEWORK BUSINESS SKILLS BUSINESS SKILLS

TECHNICAL SKILLS STRATEGY 36

MARKET AND REGULATORY ENVIRONMENT 37 BUSINESS SKILLS

PROCESS MANAGEMENT 38 PEOPLE SKILLS

BUSINESS RELATIONS 39 LEADERSHIP SKILLS

PROJECT MANAGEMENT 40

ETHICS, INTEGRITY AND PROFESSIONALISM MACROECONOMIC ANALYSIS 41

CGMA COMPETENCY FRAMEWORK BUSINESS SKILLS 35 STRATEGY

This is the process of articulating the organisation’s general sense of identity and direction, outlining why the organisation exists, for whom and what the stakeholders require.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Aware of the organisation’s • Analyse the organisation’s wider • Evaluate the organisation’s wider • Offer unique insights based on a business plan, immediate environment and draw conclusions environment and offer insights deep understanding of political, environment and the possible about the impact of events and based on an understanding of social, business, market and impact of events and activities activities; guide the team to create the business to influence change finance trends; use insights to lead on the organisation; understand solutions that deliver value in line at tactical, team and individual and influence change at strategic, current role in relation to executing with the business and finance plans levels and make informed business tactical, team and individual levels the business plan decisions and strategy across the organisation • Link ideas or events, use insights • Observe and notice events that to shape the views of managers • Explain the strategic direction of • Develop finance strategy that is are out of the ordinary, make and feed insights and observations the organisation to others; develop aligned with the organisation’s connections, draw conclusions and to senior finance colleagues to a prioritised finance plan that both long-term plan that anticipates feed ideas and observations to influence business decisions delivers the needs of the business and supports business need, senior finance colleagues and is consistent with the overall ensures appropriate resources • Understand the steps to achieve finance functional strategy and are allocated to deliver effectively • Understand the strategic direction long-term business strategy, business plan including goals to expand of the organisation and highlight identify immediate threats or capacity, improve productivity and areas of potential value or risk opportunities to the business • Ensure the team is focused on surpass industry benchmarks and resolve or escalate them identified priorities; develop accordingly and implement solutions at an • Identify and focus on future operational level to address critical areas for the organisation actions emanating from insights, and devise strategy to maximise either to mitigate critical risk or opportunity and minimise risk capitalise on opportunity

BUSINESS SKILLS STRATEGY 36 MARKET AND REGULATORY ENVIRONMENT

This is the process of understanding the market and industry in which the business operates, including identifying risks and opportunities while ensuring compliance to regulatory obligations.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Know the organisation’s products • Apply knowledge of the • Use understanding of the • Apply in-depth understanding and services and the markets in organisation’s products and organisation’s commercial business of the organisation’s products which they are sold; be aware services along with their markets to and markets to tailor offerings to and markets to shape strategy; of key industry structures and the own activities, including regulatory current and future needs, including establish relationships with external organisation’s position in it environment to day-to-day role the impact of external factors in stakeholders to set strategic order to influence business strategy direction of future regulatory • Have working knowledge of • Use sound knowledge of the framework the organisation’s customers organisation’s customers and • Devise information reporting and competitors; understand the competitors to analyse and tools to aid the understanding of • Monitor and forecast changes relationship the organisation has challenge business cases; apply regulatory stakeholders; work with in customer and competitor with the industry regulators and regulatory understanding in internal stakeholders to support behaviour and develop other key stakeholders support of reporting requirements needs of regulators appropriate organisation response; and investment funding decisions determine impact of emerging • Demonstrate awareness of external • Assess and understand customer business models and sponsor and global factors and potential • Devise short-term tactical and competitor strengths and initiatives to deliver optimal impact on the performance of the responses based on understanding limitations and use insight to response organisation of impact of external factors on the influence business decisions organisation’s performance • Advise others on regulatory regime, including funding sources and regulatory benchmarks

BUSINESS SKILLS MARKET AND REGULATORY ENVIRONMENT 37 PROCESS MANAGEMENT

This is the process of planning and monitoring structured activities or operations that generate a specific service or product.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Aware of key business processes • Operate parts of key business • Set up business processes to • Benchmark internal performance and key metrics associated with processes assigned; understand deliver successful outcomes, assess against external indicators and each business relevant to their the elements that make up each their effectiveness and review apply best practice to the business area of work process and the performance performance measures relating • Define process improvement to measures that can be applied to to each • Comply with relevant processes achieve business performance; each; proactively identify process and operating procedures and • Identify opportunity for synergy manage key business processes improvement opportunities draw attention to issues that get in and integration of processes and from end-to-end such that they the way of process compliance • Implement best practices and influence others to identify more add value to the business industry trends; manage others to efficient sustainable processes • Contribute to and make • Drive opportunity to integrate, ensure they comply with processes suggestions for process • Set demanding and realistic standardise and simplify systems and operating procedures in place improvement activities targets for process improvement and processes to achieve results and ensure changes to existing • Ensure standardisation is applied processes are carried out in a to all processes — creating, systematic and logical way developing, improving and complying with the standards

BUSINESS SKILLS PROCESS MANAGEMENT 38 BUSINESS RELATIONS

This is the process of establishing and managing both internal and external relationships to meet organisational objectives and governance responsibilities.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand the interests and • Analyse stakeholder profile and • Work with stakeholders to develop • Identify core competencies and profiles of key stakeholders of highlight areas to achieve and and drive potential efficiency build strategic alliances with the organisation improve joint efficiencies improvements stakeholders to close gaps • Understand typical contracts • Demonstrate thorough knowledge • Draft and negotiate simple • Identify and implement and legal agreements used in of contract terms and their contracts or amendments, with opportunities to improve the business unit; ensure that commercial significance; facilitate support from lawyers; analyse procedures used to successfully the contracts are executed in the successful running of contract and explain key contract terms run contracts alignment with stated terms and using procedures in place for the and risks • Lead critical decisions between report contract performance team and report on performance • Provide guidance on correct the organisation and third-party • Understand the tools and • Manage contract change control, procedures to successfully run regarding contract terms; negotiate systems for contract creation variations, payment and final contracts; manage reporting and develop complex contracts and compilation, change account processes utilising the procedures to allow for prompt and/or agreements control and variations and required systems response to problems; review and maintain appropriate contract evaluate formal change control documentation requests to check for consistency and justification

BUSINESS SKILLS BUSINESS RELATIONS 39 PROJECT MANAGEMENT

This is the process of integrating all aspects of a project, ensuring proper knowledge and resources are available when and where needed and most importantly ensuring that the expected outcome is produced in a timely, cost-effective and quality controlled manner.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Apply an understanding of and • Develop simple project plans • Lead in developing and • Identify projects that drive value participate in the development including business case, implementing complex project creation and align them to of project plans (i.e., actions, contingencies, critical paths and plans that have implications across organisational strategies resources required and timelines) apply project management tools business units or the organisation • Champion projects that have and techniques • Execute part of a project, monitor • Identify new and innovative ways broad implications across the own progress, identify obstacles • Manage and monitor to achieve required outputs of organisation by aligning and and take corrective actions implementation of multiple project projects influencing all key stakeholders plans and handle obstacles • Communicate project outcomes • Evaluate and communicate the effectively impact of project dependencies • Communicate project plans and outcomes

BUSINESS SKILLS PROJECT MANAGEMENT 40 MACROECONOMIC ANALYSIS

This is the process of understanding and interpreting the impact of external factors on the organisation such as market/industry trends, geographic trends, cultural needs, stakeholders and consumers.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand the fundamentals of • Understand behaviour and effects • Provide recommendations to • Forecast future state of the the domestic and global economy (adverse and positive) of issues macroeconomic analysis; evaluate economy; anticipate economic involved in both the domestic and and properly interpret the influence conditions and provide strategic • Possess knowledge of basic global economy of the external environment on the insight on how to mitigate impact macroeconomic measures and organisation on the organisation as a whole have a general understanding • Ability to analyse various of the effects economic indicators and their • Identify key environmental drivers • Understand and apply the impact on the organisation goals, and understand their impact upon underlying theories behind strategies, products and services business strategies and decisions macroeconomic behaviours to all levels of the organisation

BUSINESS SKILLS MACROECONOMIC ANALYSIS 41 CGMA COMPETENCY FRAMEWORK PEOPLE SKILLS PEOPLE SKILLS

TECHNICAL SKILLS INFLUENCE 44

BUSINESS SKILLS

NEGOTIATION AND DECISION-MAKING 45 PEOPLE SKILLS

LEADERSHIP SKILLS COMMUNICATION 46

ETHICS, INTEGRITY AND PROFESSIONALISM COLLABORATION AND PARTNERING 47

CGMA COMPETENCY FRAMEWORK PEOPLE SKILLS 43 INFLUENCE

This is the ability to have an effect on people, relationships, processes and products while driving business performance in both domestic/international dealings.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Adapt your personal style to suit • Sell own ideas and agenda by • Use a combination of logic, • Influence and work effectively different people and situations linking them to the needs and personal passion, conviction and with organisations from different goals of others interpersonal skills to influence cultures • Listen to and be sensitive to the others views and values of others • Anticipate responses of others • Negotiate effectively at senior when choosing the approach • Relate to, develop and make levels through anticipating • Understand and relate to others to take use of a wide network of key and managing objections from different cultural background, relationships from both inside and challenges including peers and customers • Remain professional in difficult and outside the organisation in an open, friendly and situations; demonstrate empathy • Communicate effectively and to influence others professional way to understand the feelings and assertively in high risk situations actions of others; and give difficult • Lobby to build behind the scene to resolve complex and/or sensitive messages in a way that limits support for ideas and plans and issues and build consensus misunderstanding and promotes solicit the involvement of others acceptance to build ownership and buy-in

PEOPLE SKILLS INFLUENCE 44 NEGOTIATION AND DECISION-MAKING

This is the ability to use proper influence skills to obtain positive outcomes and make decisions that align with the strategic direction of the organisation.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Recognise the different negotiating • Understand stakeholder’s positions • Negotiate in tough situations • Demonstrate use of a direct styles of parties to a negotiation and bargaining power and be able with both external and internal and diplomatic style; challenge and adapt style accordingly to negotiate and/or participate in stakeholders; demonstrate information to detect discrepancies negotiations with some support confidence, good political savvy in reasoning • Support negotiations by providing and maintain credibility with information and being part of • Manage buy-in and gain trust • Show an excellent sense of timing, third-party key decision-makers the team with internal stakeholders prior quickly gain trust and respect of all to and during negotiations • Adjust personal positions and style other parties to the negotiations • Understand who the key quickly if circumstances change stakeholders are in a given • Manage internal expectations • Lead the most complex favourably and unfavourably; situation and be able to and keep all parties informed negotiations and demonstrate win concessions without damaging communicate individual of developments; ensure best expert closing skills and excellent stakeholder relationship requirements negotiation practice in terms political and cultural savvy of preparation, approach, • Mange the negotiation team • Make decisions based on • Lead fact-based decision-making strategy, tactics and style effectively; ensure each member is facts, common sense, previous for long-term strategic issues; fully prepared for the negotiation; experience; weigh up the pros • Research and use data from analyse the wider business consistently secure positive and cons; and be able to explain a range of sources to make and political implications when outcome from the negotiation the reasoning behind decisions robust fact-based decisions; making decisions, including the make available choices clear • Assess and lead fact-based effectiveness of outcome • Establish working level relationships and simple to stakeholders decisions in high-risk situations; with third-party counterparts to • Share strategic insights and coach others accordingly; and resolve routine issues • Review the immediate results, knowledge to help others make take accountability for final broad implications and unintended sound decisions decision outcomes consequences of a decision

PEOPLE SKILLS NEGOTIATION AND DECISION-MAKING 45 COMMUNICATION

This is the ability to translate and convey financial and non-financial information effectively to all levels both within and outside of the organisation.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Listen actively to others, • Understand the big picture • Effectively listen and pick up the • Lead organisation forums to obtain acknowledge hearing different by listening and leveraging total meaning of the message as wide perspective of ideas perspectives and react non-verbal cues well as information that others will • Create forums, systems and appropriately to non-verbal cues typically miss • Engage audience in interactive procedures to actively source, hear • Develop and deliver verbal communication in small and large • Deliver presentation to senior and share diverse perspectives to information in a clear and concise group settings and anticipate management with confidence and enhance understanding manner that is tailored to the needs/questions and respond acknowledge when the answer is • Confidently present controversial needs of the audience appropriately unknown to a business question and/or complex information to all • Develop written material that • Develop written material • Share important and useful levels of the organisation is clear, concise, accurate and that is easily understood to fact-based information; simplify • Lead the development of written grammatically correct; use influence business partners and complex written communications information for highly visible or appropriate language and tone management; effectively respond and adapt style and content for all complex situations and tailor the information to the to impromptu questions and levels of the organisation needs of the audience simplify complex information • Encourage the sharing of ideas to ensure understanding • Provide fact-based information and best practices to ensure to others based on requests; use • Identify the appropriate audience understanding and achieve best communication tools appropriately for sharing information and possible outcome; encourage and in a timely manner proactively share appropriate others to speak their minds and fact-based information in a listen empathetically to understand balanced and timely manner the real motivators and emotions

PEOPLE SKILLS COMMUNICATION 46 COLLABORATION AND PARTNERING

This is the ability to establish relationships and cross-functional partnerships through demonstrated integrity to create value for the business.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Establish relationships and • Maintain and enhance effective • Lead cross-functional business • Drive cross-functional initiatives credibility with business partners cross-functional business initiatives and encourage team to across the business that create partnerships through demonstrated cultivate relationships across the value • Analyse needs of business partners integrity business • Leverage a broader network • Acknowledge different priorities • Influence outcomes and challenge • Drive collaborative culture and across the business and externally between finance and the business appropriately using fact-based joint accountabilities across partners data multiple stakeholders • Identify and address additional • Actively educate and challenge on business partner needs and limitations of possible solutions educate them on value creation and accounting

PEOPLE SKILLS COLLABORATION AND PARTNERING 47 CGMA COMPETENCY FRAMEWORK LEADERSHIP SKILLS LEADERSHIP SKILLS

TECHNICAL SKILLS TEAM BUILDING 50

BUSINESS SKILLS COACHING AND MENTORING 51

PEOPLE SKILLS

DRIVING PERFORMANCE 52

LEADERSHIP SKILLS

MOTIVATING AND INSPIRING 53

ETHICS, INTEGRITY AND PROFESSIONALISM CHANGE MANAGEMENT 54

CGMA COMPETENCY FRAMEWORK LEADERSHIP SKILLS 49 TEAM BUILDING

This is the ability to drive team performance by promoting and encouraging participation and sharing of ideas that align with the organisational strategy and maximise goals.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Proactively listen to, consider and • Encourage an environment in • Recruit and retain people from • Advocate and successfully embrace diverse ideas and styles which people value diversity diverse backgrounds and ensure leverage diversity to maximise either in recruitment, team resources are available to help organisational strength across • Interact effectively with all people formation and/or in developing them succeed in the organisation the organisation and participate in teams and plans and strategies groups and cooperate with others • Facilitate teams to develop new • Create a culture that promotes • Bring team members into ideas, more powerful than any cooperation and integration over • Apply an understanding of discussions so that they can original individual ideas; eliminate internal competition; proactively available resources and use contribute their ideas, are involved low-value activities within the identify and re-align resources to them effectively in setting team objectives and feel department meet strategic business priorities engaged on issues that affect them • Effectively manage global teams • Continuously encourage others • Identify and manage the teams’ and adapt style to accommodate to harness and maximise the strengths and weaknesses and cultural differences; encourage skills, experience and expertise resolve issues to achieve shared cross-functional and of all team members; provide goals; promote trust, openness cross-boundary working and resources and remove obstacles and respect for others; guide resolve conflict of interest to support cross-functional and and motivate team geographically dispersed teams • Harness the collective energy • Anticipate additional requirements of the team to achieve business • Create a common goal and a and use available resources success; create opportunities climate where people feel part appropriately for teams to network internally of something bigger than their to share knowledge and best own individual success or their practice immediate team

LEADERSHIP SKILLS TEAM BUILDING 50 COACHING AND MENTORING

This is the ability to train and advise others on how to perform, improve and succeed by producing best results.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Seek, provide and successfully • Proactively seek feedback to • Create a team environment where • Drive strategic training initiatives incorporate feedback into future gauge and monitor progress and members provide each other with to enhance the whole organisation; behaviour update development plan constructive feedback regularly lead and influence the broader to facilitate continuous and in challenging situations development planning process • Orient new employees on the job; self-improvement aware of the need for and the • Identify and communicate • Actively arrange for developmental value of training, both for self • Participate in developing and strengths and development areas or stretch assignments into other and others delivering training to finance in others; ensure development functional areas or business units employees and business partners; plans are implemented; empower for the benefit of the organisation • Take ownership of career; use relevant training courses and and give adequate exposure for and the individual implement a development plan programs to build the skills of all team members that is aligned with performance • Champion the recruitment, others evaluation; and/or partner with • Balance the needs of the development and retention of high manager to identify strengths • Provide regular, timely, constructive organisation and career needs potential and high performing and opportunities and actionable feedback to team for individuals; lead the talent individuals; make time available members and management; management process for the for coaching, mentoring and proactively identify potential department; lead training solutions feedback people for talent development opportunities

LEADERSHIP SKILLS COACHING AND MENTORING 51 DRIVING PERFORMANCE

This is the ability to support, implement and monitor effective performance management process to achieve results.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Apply an understanding of and • Participate with senior manager • Manage and communicate all • Lead in driving enhancing participate in the performance and team members to align both aspects of the performance performance management management process individual and team goals for management process ensuring throughout the whole organisation specific assignments alignment with development plans • Establish and accept accountability • Establish and drive the strategies for set objectives; take ownership • Ensure goals are aligned to key • Ensure accountability among the and standards required to deliver of assigned work through to department objectives; understand team to set stretch targets; drive against business plans; translate completion; take action before the link between the achievement challenging targets and review internal and external analysis into being asked of results and the financial impact functional performance against strategy and action on the bottom line these targets • Consistently deliver high quality • Set and promote standards for work on time and against • Create a sense of urgency and • Create an environment where best practice and outstanding commitments focus the team on delivering teams and individuals enjoy service delivery; create programs and achieving results based on achieving results; leverage and incentives that drive and • Contribute to the achievement of appropriately high standards and additional capability in reward results team and business unit objectives; measures resources to deliver results support colleagues to help them • Set up and structure business units achieve their goals • Monitor team performance as well • Promote the expectation of so they have the capability to as challenge and deal with poor exceptional performance as deliver against strategic targets performance; follow through on the norm; look for new ways own and team commitments to improve performance and deliver value

LEADERSHIP SKILLS DRIVING PERFORMANCE 52 MOTIVATING AND INSPIRING

This is the ability to create a workplace where employees are inspired, encouraged and valued.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Demonstrate a positive and “can • Make timely decisions in a • Personally build the confidence • Create processes or methods to do” attitude; adopt a consistent self-assured way when demanded of others in their own capacity to boost the confidence of internal or and positive approach in times and confidently justify and maintain succeed, or in the future success external stakeholders in the present of stress own position or decision when of their team, unit or organisation; and future success of own team, challenged provide guidance, support and unit or organisation or in their own • Appreciate the contribution and incentives to motivate others capacity to succeed efforts of other team members and • Generate commitment by involving colleagues team members when setting team • Make statements to build • Inspire exceptional performance direction and objectives; help them hope, optimism, excitement and by building a collective corporate • Help, support and celebrate the see how they contribute to team enthusiasm in others; recognise identity and communicating a achievement of colleagues and organisation success and reward team and individual shared purpose contribution and achievement • Publicise and celebrate team/ • Create a culture that inspires individual achievement and • Demonstrate own belief in and people to do their best because success; assess strengths and high expectations for the success they feel valued; create strategies needs of others to get the best out of a particular plan or strategy to recognise, reward and celebrate of them; reassure after setback, contribution and achievement discuss issues and ways to prevent reoccurrence

LEADERSHIP SKILLS MOTIVATING AND INSPIRING 53 CHANGE MANAGEMENT

This is the ability to recognise the need for change and embrace new ways of thinking and working that align with business objectives and financial targets.

FOUNDATIONALDEFINITION INTERMEDIATEDEFINITION DEFINITIONADVANCED DEFINITIONEXPERT

• Understand the business needs, • Understand the business objectives • Advise on and influence change • Strategically design selection and direction and changes in and how management changes management; participate in the implementation of organisational management tie to business unit performance planning and implementation of changes to drive and exceed and results organisational changes business objectives • Evaluate how change management affects current roles and • Interpret, communicate and • Monitor change management • Be an advocate for changes responsibilities facilitate the implementation results and measure with business processes of change management objectives • Support implementation of organisational changes and assist • Effectively manage change • Handle sensitive aspects in carrying out the goals and management along with potential of organisational change objectives of the management conflicts to maximise acceptance, management team cooperation and achieve business objectives

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